Project Plan: London Business School Charity Cupcake Stall Project

This project plan outlines the strategy for a charity event organized by the London School of Business and Management (LSBM) students to raise funds for charity by selling cupcakes. The plan encompasses several key areas, including project overview, cost management, time management, and risk...Read More

PROJECT PLAN

Table of Contents
INTRODUCTION................................................................................................................................................3
TASK..................................................................................................................................................................3
Project Overview..............................................................................................................................................3
Project Cost Management................................................................................................................................3
Project Time Management...............................................................................................................................4
Project Risk Management ................................................................................................................................5
CONCLUSION....................................................................................................................................................7
REFERENCES.....................................................................................................................................................8

INTRODUCTION
Project planning is linked with developing ideas in order to complete the activities which are
organized in order to make the project successful . In project formulation assumptions are
developed for the budget that will be required in order to effectively utilize the available resources
and assets in planned ways. In project planning activities are divided according to their priorities so
that project will not face any difficulty in their operations (Ahimbisibwe, Cavana and Daellenbach,
2015) The under mentioned report is based on London school of business and management and the
students have decided to celebrate the end of new year by doing charity work for this they have
decided to organize a stall of cupcakes and the money which will be collected by this will be used
for charity work.
TASK
The project plans is described as the formal document which are used for executing and
controlling the activities of the project. The main and the primary ]purpose of the project plans are
linked with planning and generating assumptions in order to carry out effective decisions for the
overall project. The project planning is beneficial in order to communicate with all the stakeholders
about different ways by which they had to carry out the operations of the project. The project
document consist of the overall cost of the project, the schedule framework according to which
different activities will be carried out. Thus project plans are described as the overall sum up or the
detailed analysis of the factors according to which the plans will be carried out.
Project Overview
The current project is formulated for the school of business and management which is
situated in London and the plans are formulated for celebrating the need of their academic year for
this plans are developed for organizing an event in which funds will be collected from the students
of the business and management field and they have developed an organize a stall of selling
cupcakes and the money which will be collected by selling the cupcakes will be used for charity
purpose as to help those persons who are living in old house or the persons who have no one to care
for them. In order to make this event successful the project manager of London schools have
developed plans so they can carry celebrate the end of the year according to their plans thus helping
those people who are in need by donating the money in charity.
The project will face difficulties if the activities are not planned out according to the desired
time frames. The stakeholders should be communicated effective about the goals and objectives
according to which they have to carry out their working so that there will be no risk in completing
the project activities.
Project Cost Management
The project cost management indicates the overall cost which are incurred in order to
organise the event of selling cupcakes and collecting funds which will be used for the charity
purpose and helping the old age people who are homeless (Boss and Krauss, 2014)
. The major cost elements which are considered for the project are evaluated below as:

Resources Analysis: The resources are the most important factors in order to achieve growth
and success in the overall project planning. As the London school of business and management
wants to celebrate the end of the year by organizing an event will in turn help the poor so the
students are the most valuable resources as they are contributing towards collecting money among
themselves and buy cupcakes and thereafter by selling the cups the money overall money which is
collected by them including the profits will be used for charity purpose and helping people who are
not having anyone to support them. In order to organize the event successfully the students of
business school have given the advertisement of the event in newspapers, social media sites as these
are most used by all the persons in their daily operations. This is an important factor in order to
develop awareness among people so they can participate in the event and buy cupcakes and the
events of the students successful as they can do charity work.
Budgeting: The overall budgets which are needed to execute the project is according to the
money which the students have decided to donate in the charity work. There is equal contribution
among all the students of school of Business and management London and they are working in
order to collect the required budgets and make the events successful. Budget is collected according
to the all the requirements like organizing the event of selling cupcakes, the assets which will be
required in order to organize all the activities in effectual and planned ways thus making the event
successful in their overall operations. The project manager have the major responsibility of
analyzing the overall budgets so students can celebrate their new year by donating the money for
charity work (Davies and Hughes, 2014)
The cost of selling the cupcakes in London school of business and management is 1.50 (£) and total
1000 cupcakes were sold in the stall which was organized to celebrate the end of the year. The total
amount which will be collected after selling the cupcakes is 1500 (£). the manufacturing cost of each cup
cake is 1 (£) and the direct and indirect cost is 500 (£). After deducting all the expenses the left over cost
will be profitable income that is 500 (£) and this will be used for charity purpose in order to help the old age
people who does not have their own homes and family to support them thus they are not able to fulfill
their demands. The students of London school have initially set the budget according to which they will be
organizing the stalls and the left over profit will be used for charity purpose.
Project Revenue: Projected revenue is linked with the overall estimated cost that London
school of business and management will incurred in desired time frames to organize the event at the
end of the year. The projection are based on month, quarterly and annual time frames. The projected
revenues is based on internal knowledge and combination of research elements.
Project Time Management
The project time management describes the time in which activities have to be completed in
planned ways. The project manager divides the activities into various sub task in order to achieve
effective outcomes.
Gantt Chart: This is the most common type of tools which are used in project planning in
order to display the task which have to be completed for completing the operations. In gantt chart
list of activities are designed and on the top of the activities the time duration are assigned in which
overall activities have to be completed effectively.

Network Diagram: It is described as the blue print which represent the schedule of the activities. It
is an important tool in project management as it helps in tracking of all the operations of project
from their starting to the end points. It helps in analyzing critical path of projects and the overall
scope of projects.
Critical Path Analysis: It is a mathematical representation of the activities related with project so
that complex activities can be easily completed with the help of critical path.
Project Risk Management
Risk Management
The risk management plans are linked with analyzing the task which are executed for
completing the project and thereafter meetings are organized in order to reduce the risk which are
difficult for operations. The plans are formulated so that solutions can be developed by which risk
factors can be minimized, the risk mitigation plans are formulated so that the difficulty from the risk
will not arise in the future times and the students can easily organize their stalls of selling the
cupcakes and earn money which can be used for charity purpose (Heldman, 2018)
The risk assessment plans are linked with measuring the profit that will generated by organizing the
charity event so that the overall programmer can be turned into reality. If there are plans developed
for organizing an event the project management is not the sole responsibility
for the risk assessment plans. A special type of meetings are organized so that new and innovative
ideas can be developed by all the members who are involved in the project so that risk factors can
be minimized. The important members who are called in the meetings are evaluated below as:
Project Manager: The main and the important role of the manager is he is acting as the
chairperson in the overall projects and also organizing the risk assessment meetings in order to
minimize the risk from the project plans.
Project Team: The project managers had to decide the total members who will be involved
in the project team in which plans are developed for the event. The roles and responsibilities are
assigned to team in order to make the event successful (Flick, 2015)
Key Stakeholders: These are the important persons who are developing new and innovative
ideas in order to minimize the risk factors and also develop risk mitigation plans.

Project Sponsors: These persons are having their participation depending on the scope of project
related with selling cupcakes and the size of their operations.
Subject experts for the event: These are the persons who are experts in the particular activities of
the event which is organized but these are not formally involved in the project plans but they add
values in the activities in order to make the event successfully and earn money by selling cupcakes
which can be used for charity purpose.
RISK MATRIX
The risk matrix are mainly used during the time of risk assessment in order to identify the
level of risk by analyzing the probability or likelihood against the category of the risk or the
operations of the project. This is the simplest process in order to increase visibility of risk that are
arising in the project plan and involve management in the decision making process. It is a
uncertainty about results for making a choice. Statistically, the downside level of risk can be
calculated as profitably of product which occurs harm multiplied by harm severity. In practice, it is
a approach which is useful either profitability or harm severity which cannot estimated with
precision and accuracy.
Time: It is evaluated as the overall time which is required in order to complete the overall
activities of the project. This is the most important factor in project planning. The time frame
strategies set the deadline according to which the activities of the project have to completed and the
important factors are given the most importance so that project will achieve success in their
ventures. There should be careful planning of all the activities in order to achieve success in the
project. The resources should be properly utilized according to requirements of the project
activities. The schedule of the project also includes planned holiday sand vacations (Gilis-
Januszewska and et. al., 2011)
Scope: It is what they have to achieve in their project. It requires that involvement of all
work deliver results of project and process used for producing. It is a purpose and result of project
Quality: It is a combination of criteria and standards to which products have to delivered in a
very effective way. Performance of product gives expected functionality, value expected & benefits
are delivered and solve issues which are identified. It also meet other requirements of performance,
or level of services like as reliability, availability, polish, maintainability and finish which is
acceptable Cost: It is a budget which is approved for a project contains all important expenses
require for delivering a project. Within companies, managers of project have to make a balance
between spending out of money and under spending of money because lots of projects get funds
which are having a clauses of contract with a approach of “ use it or lose it” to a funds of project.
Budgets plans are poorly executed which outcomes in a last mints rush to spends the funds which
are allocated (Heagney, 2016)
CONCLUSION
From the above report it has been concluded that project planning is an important factor as
it helps in completing activities according to the set times in order to achieve goals of project. Gantt

chart are used for analyzing all activities and assigning the time in which they have to be completed
effectively.

APPENDIX
Gantt chart

REFERENCES
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